The mammalian frontal and auditory cortices are fundamental structures supporting vocal production, yet the dynamics of information exchange between these regions during vocalization are unknown. Here, we tackle this issue by means of electrophysiological recordings in the fronto-auditory network of freely-vocalizing Carollia perspicillata bats. We find that oscillations in frontal and auditory cortices provide correlates of vocal production with complementary patterns across structures. Causality analyses of oscillatory activity revealed directed information exchange in the network, predominantly of top-down nature (frontal to auditory). Such directed connectivity was dynamic, as it depended on the type of vocalization produced, and on the timing relative to vocal onset. Remarkably, we observed the emergence of bottom-up information transfer only when bats produced calls with evident post-vocal consequences (echolocation pulses). Our results link vocal production to dynamic information transfer between sensory (auditory) and association areas in a highly vocal mammalian animal model.